Weis Markets posts 23.7% Q2 sales gain

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SUNBURY, Pa. — Weis Markets Inc. posted a second-quarter sales increase of 23.7%, to $1.1 billion, the company said Monday. Comparable store sales increased by 24.1% for the 13-week period.

The Company’s second-quarter net income increased 102.5% to $41.5 million compared to $20.5 million in 2019, while earnings per share totaled $1.54 compared to $0.76 per share for the same period in 2019. E-commerce sales increased by 243% during the same period.

“The coronavirus pandemic has altered most aspects of daily life in our seven-state market area which was impacted by full and partial shutdowns initially, and cautious reopenings in June,” Weis Markets chairman and CEO Jonathan Weis said. “This has resulted in customers taking an increased number of meals at home, which shifted foodservice demand to food retail.

“Our dedicated associates helped us adjust to these new market conditions with accelerated replenishment schedules, strategic procurement and an ongoing commitment to ensuring a safe shopping environment. Their essential work makes this possible. We remain grateful for all that they do.”

For the 26-week year-to-date period ending June 27, the company’s sales increased 18.1% to $2.1 billion compared to the same period in 2019. Comparable store sales increased 18.5%. Year-to-date net income increased 96% to $68.2 million while earnings per share for the same period increased $1.24 to $2.53 per share. Year-to-date ecommerce sales increased 141%.

Weis Markets operates 197 stores in PennsylvaniaMarylandDelawareNew JerseyNew YorkWest Virginia and Virginia.



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